Milei's Omnibus Law

[Preston]

Can anyone please help explain this Blanqueos y Cambios en Bienes Personales, which seems to be within the Omnibus law? It seems like they want all residents of Argentina to report all assets, foreign assets,cash, crypto, etc. and pay tax on anything above 100k. Something like you have to deposit all the money in the Argentine banks for a few months, pay your tax penalty in dollars. Surely I’m not understanding this. I saw this on the TN YouTube dec 28 TN Reforma Fiscal Blanqueos y cambios en bienes personales

 

[lunar]

Can anyone please help explain this Blanqueos y Cambios en Bienes Personales,

Macri implemented a similar tax amnesty back in 2016. This seems to be a continuation of the 'No hay plata!' situation.

Argentine gov't proposes tax amnesty

ARGENTINA ECONOMY

www.sandiegouniontribune.com

 

[Alby]

Can anyone please help explain this Blanqueos y Cambios en Bienes Personales, which seems to be within the Omnibus law? It seems like they want all residents of Argentina to report all assets, foreign assets,cash, crypto, etc. and pay tax on anything above 100k. Something like you have to deposit all the money in the Argentine banks for a few months, pay your tax penalty in dollars. Surely I’m not understanding this. I saw this on the TN YouTube dec 28 TN Reforma Fiscal Blanqueos y cambios en bienes personales

All tax residents.

Tax residents have always had to report foreign assets and pay tax on them. All this ómnibus law is saying is that those who have not been complying up til now can come clean and take advantage of the amnesty.

 

[SinPulgas]

There have been many of these in the years that I've been here. Massa wanted to do one, but it finally never happened.

 

[Miguel741]

Er, Argentina actually has a lot of oil and much better chances of extracting it than Venezuela.

Who knows if Milei is the answer (if he is, then what was the question?) but he’s delivering higher inflation than Venezuela at the moment. Quite an achievement. All the posters who previously revelled in comparing the two countries inflation, and were positively joyous on the very few occasions Argentinian inflation was higher, appear to have disappeared into the undergrowth.

None of which is to say, Argentina was a paradise under the previous government, but hey, let’s have some consistency here.

How does Argentinas oil compare to Saudi Arabia ? I always hear Venezuela has so much oil they should be one of the richest countries in the world without their scum government and Argentina has even better oil?

Not doubting you BTW I'm just trying to understand the situation

 

[NomadTrader]

How does Argentinas oil compare to Saudi Arabia ? I always hear Venezuela has so much oil they should be one of the richest countries in the world without their scum government and Argentina has even better oil?

Not doubting you BTW I'm just trying to understand the situation

Less than 1% the proven oil reserves of either Saudi or Venezuela.

Untapped Argentine oil is mostly in shale. Different, more complex extraction process.

 

[sts7049]

its not that complex anymore. vaca muerta is one of the most prolific reservoirs, but its pretty underdeveloped. the country needs more export routes and processing capacity

 

[007gaucho]

Can anyone please help explain this Blanqueos y Cambios en Bienes Personales, which seems to be within the Omnibus law? It seems like they want all residents of Argentina to report all assets, foreign assets,cash, crypto, etc. and pay tax on anything above 100k. Something like you have to deposit all the money in the Argentine banks for a few months, pay your tax penalty in dollars. Surely I’m not understanding this. I saw this on the TN YouTube dec 28 TN Reforma Fiscal Blanqueos y camb

 

[FrankPintor]

How does Argentinas oil compare to Saudi Arabia ? I always hear Venezuela has so much oil they should be one of the richest countries in the world without their scum government and Argentina has even better oil?

Not doubting you BTW I'm just trying to understand the situation

Argentina’s oil is very high quality, while Venezuela’s needs to be mixed with an equal quantity of light crude to be refined (I’m not a petroleum engineer, I only shared an apartment with one in Caracas for a while, so anyone who knows better is more than welcome to correct me). I’ve also read that there might not be enough light crude in the world to dilute Venezuela’s Orinoco Belt sludge. So in summary, Argentina has much less, but much better oil than Venezuela and can get it to market much more easily.

 

[Quilombo]

My job depends on Argentinians having enough disposable income to buy mobile phone services. My personal interests align with a well-off Argentina, though we can disagree on how to achieve that. I share @Quilombo’s well expressed reservations about the proposals and DNUs to date. At least a part of Milei’s program seems to prioritise a rollback to dictatorship era laws.

Not just rolling back laws, but weird pointless shit like making judges wear black robes and use a gavel... I like Law and Order and My Cousin Vinny as much as the next guy, but when you look at the total chaos that is Argentina right now, how do you come to think "Yeah, the court is not dressed like Judge Judy, that's our problem..."

I don't disagree with everything in the proposal, but it just again shows how divorced from reality many people in LLA are that their minds go to stuff like this when asked for proposals for the first omnibus package of laws Congress will receive during an emergency session.